In case you don't realize what just happened:
MARA sold 15,000 BTC, Bitdeer sold all of its BTC, Riot is selling BTC from treasury to fund data center build-outs, Auradine just rebranded to Velaura AI.
The biggest miners are leaving the game.
Not necessarily because it's broken, but because AI pays more per megawatt.
Think about what this means:
These aren't small players.
They find thousands of blocks and move global hashrate.
When they redirect capital and infrastructure toward AI, that hashrate comes offline.
Unless equivalent hashrate fills the gap, difficulty drops.
And it doesn't seem the the gap will be filled in the near term because the whole reason they're leaving is better margins elsewhere.
Lower difficulty = higher margins for every miner who stays.
And there's a second layer here.
If the Strait of Hormuz stays closed into April, energy prices climb.
Oil-dependent miners get hit hardest.
This might be the best setup small/medium miners with stable PPA's have seen since the 2021 China mining ban.
There really is no end in sight for this war, unless Trump magically just exits. Which would mean that the Gulf States are now at Iran's mercy, and that Israel can't threaten Hezbollah or Hamas, or perhaps even the West Bank.
Still can’t believe they did this.
QatarEnergy declared force majeure for LNG shipments through May, according to people familiar with the matter, effectively canceling contractual obligations. That would represent as many as 90 cargoes: BBG
Alter falter! Wow geht das schnell!
In Kürze folgen dann die Bauzinsen. Wenn sie nicht schon gefolgt sind.
This image from the @FT shows how the war in Iran could have dramatic effects on global food security.
Without natural gas, ammonia and urea—key nitrogen fertilizers—cannot be produced.
Without them, crop yields collapse.
Der #Iran will sein Öl künftig im Yuan abrechnen. Der Anfang vom Ende des #Petrodollar-Systems? Heute im Börsenwecker bei @TichysEinblick
Bedrückend, wie #Israel nach dem #Holocaust die Sympathie der ganzen Welt hatte, und Netanyahu diese innerhalb weniger Jahre verspielt
Hormuz is the front line in the war on the dollar
Almost there …
If Trump invades Iran what is Buffalo Bill Bessent going to do to calm the UST market?
Trump: We're going to bomb your energy facilities if you don't open the Strait of Hormuz in 2 days.
Iran: F off.
Trump: OK, you have 5 more days.
Iran: F off.
Trump: Fine, we'll give you 10 days like you asked.
Iran: We didn't ask for anything. F off.
MacroVoices @ErikSTownsend & @PatrickCeresna welcome, @LynAldenContact & @TheMichaelEvery. They will discuss the Iran conflict, the return to a multi-polar world order, the outlook for persistent inflation, the breakdown in private credit markets and much more. https://bit.ly/4rZghp4
*TURKEY SOLD OR SWAPPED 58 TONS OF GOLD IN 2 WEEKS TO MARCH 20
And that's why gold plunged
wie oft probieren die das eigentlich noch? #Chatkontrolle
IRAN REJECTS U.S. PROPOSAL DELIVERED VIA MEDIATOR, VOWS TO CONTINUE FIGHTING
Ich schaue zur Zeit alte Dokus von Peter Scholl-Latour zum #Iran. Unglaublich, wie viel mehr Tiefgang seine Berichte hatten im Vergleich zu heute. https://www.youtube.com/watch?v=qFDRNlECqqI
Interessante Perspektive von @f_wintersberger ‘Given that the US pursues such a strategy, its main leverage lies in being a global net energy exporter and the largest energy producer.’
Asian oil prices (Dubai, Oman) in total freefall and about to catch down to Brent, as market slowly figuring out that flows to China, India, Japan normalizing. Iran Hormuz leverage fading
#Gold wird vermutlich weiter fallen, weil viele Zentralbanken von Schwellenländern jetzt ihre Reserven verkaufen müssen - wegen gestiegener Energiekosten.
BREAKING: The Iran War will fuel a surge in US inflation to 4.2% this year, the highest in the G7, according to a newly released OECD forecast.
Details include:
1. The jump in inflation is expected to slow US GDP growth to 2.0% this year and 1.7% in 2027
2. Global growth is expected to slow from 3.3% last year to 2.9% in 2026
3. Headline inflation expectations in the G20 have been revised up by 1.2 percentage points in 2026 to 4%
4. Eurozone growth is expected to slow to just 0.8% this year
Potential rate HIKES in the US and EU are now back on the table.
90% of Indian LPG imports (itself making up 60% of Indian LPG consumption) come through the Strait of Hormuz. India might not only be facing a price shock soon, but a real insufficiency in supply! Chartbook Top Links of the day just dropped:
Das ist stark übertrieben, aber die Grundtendenz stimmt: Benzin wird seit einigen Tagen rationiert. Touristen kommen noch, aber weniger. Es ist 35 Grad, Klimaanlagen gehen noch, aber man wird zum Sparen angehalten. #Thailand
Das Comeback der #Kohle heute im Börsenwecker👇. Weil das LNG immer knapper wird, und eine Energiekrise droht, steigt der Kohlepreis
SAMUT SAKHON - A surge in diesel prices triggered by the US-Israeli war on Iran is pushing Thailand’s multibillion-dollar fishing industry towards a standstill, with fishermen warning that their boats could be idled within days unless the government steps in.
Listen to or read full story in 1st comment.
BREAKING: Over 500 gas stations in Australia have now run out of fuel as the nation’s fuel crisis worsens.
Of these, 187 have completely run out of diesel, while 32 service stations had run out of all types of fuel.
Iran really hit the ball out of park with these latest videos. It puts tepid Chinese propaganda to shame
The inclusion of a little blonde girl on Epstein island along w other victims of US war crimes drives home the point that Iran is fighting the Epstein class. Topped w destruction of Baal in form of Statue of Liberty
It puts Iran at the top of the class with Russia at making effective propaganda. It demonstrates that they clearly understand their targeted audience. Whereas Chinese propaganda often appears lame and timid outside of the usual pandas, high speed trains and execution of corrupt officials.
There should be study around this. What's the reason? I'm still scratching my head over it. AFAIK, Chinese people can be incredibly creative w media. Is it just institutional cuckoldry and bureaucratic culture of afraid of making mistakes that's holding them back??? Or that Iranians and Russian are just much more familiar with the dominant Western culture???
Wäre halt nicer Journalismus, wenn der #Spiegel mal wieder regierungskritisch publizieren würde, anstatt seine Recherchen mit Ministern abzusprechen. #Ulmen
The Iranians would obviously be getting technical assistance and weapons in exchange. This has already become a proxy war.
Immerhin wird kommuniziert…
1/3 Mkts AREN'T pricing an end to the war. What mkts ARE pricing is... Oman appears to have followed Qatar in cutting a deal with Iran (reportedly involving a $6B payment), with the IRGC now issuing transit waivers that have brought Lloyds back into the market - i.e., cutting...
BREAKING Iranian officials have told Pakistan, Egypt, and Turkey that US military movements have increased their suspicion that Trump's proposal for peace talks is "just a ruse," per Axios.
Details include:
1. Trump's decision to deploy major troop reinforcements is "suspicious" to Iran
2. Several fighter jet squadrons and thousands of troops are set to arrive in the Middle East in the coming days
3. Officials say another two to three weeks of war is planned even if talks take place
Iran continues to demand reparations.
Absolut nachvollziehbar. Der Vertrauensverlust der USA durch Witkoff und Kushner ist gewaltig
Ein Rätsel der vergangenen Tage: Warum steigt der Preis von #Gold nicht? Darüber und die neusten Entwicklungen um den #Iran geht es heute im Börsenwecker auf @TichysEinblick
Iranian officials have told the mediators — Pakistan, Egypt and Turkey — that U.S. military movements and Trump's decision to deploy major troop reinforcements have increased their suspicion that his proposal for peace talks is just a ruse: Axios
Bestimmt wird sich der Iran nochmals über den Tisch ziehen lassen - #Witkoff und Kushner haben jegliche Glaubwürdigkeit verloren...